RPD-41327: RPD-41327 Sustainable Building Tax Credit Approval (Revision 2016-04)
New Mexico · New Mexico TRD · Used for tax years 2024, 2025, 2026
Form RPD-41327 requests New Mexico approval for the sustainable building tax credit and records the approved amount and first eligible tax year. It identifies the building owner and, if applicable, another holder receiving a share of the credit. The instructions distinguish this
Who files this form
Building owners seeking approval for the sustainable building tax credit must submit Form RPD-41327 to the New Mexico Taxation and Revenue Department (TRD). First, the owner must complete the construction, installation, or renovation and obtain a certificate of eligibility from the Energy, Minerals and Natural Resources Department (EMNRD).
A partnership or other business association may pass the credit to its members, partners, shareholders, or beneficiaries in proportion to their ownership interests.
Important for tax years 2024, 2025, and 2026: The supplied text directs taxpayers to Form RPD-41382, New Sustainable Building Tax Credit Approval, for tax years beginning on or after January 1, 2017, and ending on or before December 31, 2026. It does not identify RPD-41327 as the approval form for that new credit.
What you'll need
- A completed Form RPD-41327, with the required certification box checked, signature, and date.
- A copy of the certificate of eligibility issued by EMNRD.
- The building owner's name, mailing address, phone number, Social Security number or federal employer identification number, and contact information.
- If a business is passing the credit to an owner, the holder's identifying and contact information, ownership percentage, certification, signature, and date.
- Any additional information TRD requires to determine the eligible credit amount.
How to file
- Obtain the certificate of eligibility from EMNRD after the building's construction, installation, or renovation is complete.
- Promptly complete Section I of RPD-41327 with the building owner's information. Complete Section II if a partnership or other business association is passing the credit to a member, partner, shareholder, or beneficiary.
- Check the required certification box, sign, date, and attach a copy of the EMNRD certificate. Include the holder's certification and signature when applicable. Leave Section III for TRD.
- Mail the package to:
New Mexico Taxation and Revenue Department
Edit Error
P.O. Box 5418
Santa Fe, NM 87502-5418
TRD returns the approved form to the owner or holder. To claim the credit, submit TRD approval with the income tax return.
For help completing this form, call (505) 827-0792.
Common mistakes
- Missing required items: The form requires the certification box, the owner's signature and date, and the EMNRD certificate. A holder receiving a business pass-through credit must also complete the required certification and signature.
- Claiming both credits for the same qualifying solar system: The owner and applicable holder must certify that they have not claimed and will not claim the solar market development tax credit for a system used to qualify the building for this credit.
- Skipping the first eligible year's claim: The text says the credit or eligible portion must first be claimed in the eligible year before a carryforward can be claimed, even if no tax is due.
- Transferring a carryforward after claiming the credit: Once an owner or holder claims a credit, the carryforward cannot be sold, exchanged, or transferred.
Questions people ask
Does the EMNRD certificate alone let me claim the credit?
No. You must also obtain TRD approval. Submit that approval with your income tax return when claiming the credit.
How do I contact EMNRD about a certificate of eligibility?
Call (505) 476-3320 or write to Energy, Minerals and Natural Resources Department, 1220 So. St. Francis Dr., Santa Fe, NM 87505.
Can a government-owned building qualify?
No. The text excludes buildings owned by state or local governments, public school districts, or tribal agencies.
What if TRD does not approve the request as submitted?
TRD may deny the request or approve an adjusted amount. The form provides for an attached explanation in either case.